BTC has tested the Great Triangle support
Updated
"The Great Triangle" support that formed after the 2019 ATH, has been tested and price rejected off it. Price can still retest the support again.
I show both paths, in case of rejection or penetration.
My bias is down, because of the daily bearish div that has formed and the low volume through out the current bull run. This bullrun did not have a significant retracement, it was practically a parabola. A retracement will not be surprising. The question will remain, would it be just a retracement or a change in trend.
Bull expected a breakout of the great triangle and moon at the time price action was confined within it. Will a penetration of that support, now turned resistance, result in a moon?
I show both paths, in case of rejection or penetration.
My bias is down, because of the daily bearish div that has formed and the low volume through out the current bull run. This bullrun did not have a significant retracement, it was practically a parabola. A retracement will not be surprising. The question will remain, would it be just a retracement or a change in trend.
Bull expected a breakout of the great triangle and moon at the time price action was confined within it. Will a penetration of that support, now turned resistance, result in a moon?
Note
the great triangle support proved to be deadly. Price action now following the curves down.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.